Fragasso Financial Advisors Inc Buys New Stake in General Motors (NYSE:GM)

Fragasso Financial Advisors Inc purchased a new stake in General Motors (NYSE:GM - Free Report) TSE: GMM.U in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 32,810 shares of the auto manufacturer's stock, valued at approximately $1,543,000.

A number of other large investors have also recently modified their holdings of GM. NBC Securities Inc. lifted its holdings in General Motors by 100,483.3% during the first quarter. NBC Securities Inc. now owns 12,070 shares of the auto manufacturer's stock worth $567,000 after buying an additional 12,058 shares during the period. Ervin Investment Management LLC increased its position in shares of General Motors by 3.7% during the first quarter. Ervin Investment Management LLC now owns 79,450 shares of the auto manufacturer's stock worth $3,737,000 after purchasing an additional 2,820 shares in the last quarter. Sterneck Capital Management LLC increased its position in shares of General Motors by 151.0% during the first quarter. Sterneck Capital Management LLC now owns 13,424 shares of the auto manufacturer's stock worth $631,000 after purchasing an additional 8,075 shares in the last quarter. BTC Capital Management Inc. increased its position in shares of General Motors by 1.6% during the first quarter. BTC Capital Management Inc. now owns 123,321 shares of the auto manufacturer's stock worth $5,800,000 after purchasing an additional 1,914 shares in the last quarter. Finally, GAMMA Investing LLC increased its position in shares of General Motors by 5,102.5% during the first quarter. GAMMA Investing LLC now owns 946,855 shares of the auto manufacturer's stock worth $44,531,000 after purchasing an additional 928,655 shares in the last quarter. Hedge funds and other institutional investors own 92.67% of the company's stock.

General Motors Price Performance

GM stock traded up $0.11 during mid-day trading on Thursday, reaching $47.78. The company's stock had a trading volume of 3,556,149 shares, compared to its average volume of 13,190,321. The stock has a market cap of $45.94 billion, a PE ratio of 7.77, a P/E/G ratio of 0.67 and a beta of 1.34. The company has a current ratio of 1.13, a quick ratio of 0.98 and a debt-to-equity ratio of 1.38. General Motors has a fifty-two week low of $38.96 and a fifty-two week high of $61.24. The company's 50 day moving average is $46.79 and its two-hundred day moving average is $49.49.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last released its quarterly earnings data on Tuesday, April 29th. The auto manufacturer reported $2.78 EPS for the quarter, beating analysts' consensus estimates of $2.63 by $0.15. The company had revenue of $44.02 billion during the quarter, compared to the consensus estimate of $42.64 billion. General Motors had a net margin of 3.21% and a return on equity of 15.29%. General Motors's quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.62 EPS. Equities research analysts expect that General Motors will post 11.44 EPS for the current year.

General Motors announced that its board has authorized a stock buyback plan on Wednesday, February 26th that authorizes the company to repurchase $6.00 billion in shares. This repurchase authorization authorizes the auto manufacturer to buy up to 12.5% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's board believes its shares are undervalued.

General Motors Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 19th. Stockholders of record on Friday, June 6th will be issued a dividend of $0.15 per share. The ex-dividend date is Friday, June 6th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.26%. This is an increase from General Motors's previous quarterly dividend of $0.12. General Motors's dividend payout ratio (DPR) is currently 8.65%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Cowen assumed coverage on General Motors in a research report on Thursday, March 6th. They set a "buy" rating on the stock. BNP Paribas raised General Motors to a "strong-buy" rating in a research report on Monday, May 5th. Royal Bank of Canada upped their target price on General Motors from $55.00 to $57.00 and gave the company an "outperform" rating in a research report on Friday, May 2nd. TD Cowen began coverage on General Motors in a research report on Friday, March 7th. They issued a "buy" rating and a $105.00 target price on the stock. Finally, JPMorgan Chase & Co. cut their target price on General Motors from $64.00 to $53.00 and set an "overweight" rating on the stock in a research report on Thursday, March 27th. Four research analysts have rated the stock with a sell rating, ten have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $54.56.

About General Motors

General Motors Company designs, builds, and sells trucks, crossovers, cars, and automobile parts; and provide software-enabled services and subscriptions worldwide. The company operates through GM North America, GM International, Cruise, and GM Financial segments. It markets its vehicles primarily under the Buick, Cadillac, Chevrolet, GMC, Baojun, and Wuling brand names.